{"id":4062,"date":"2019-05-23T11:31:58","date_gmt":"2019-05-23T07:31:58","guid":{"rendered":"http:\/\/seera.sa\/ar\/?p=4062"},"modified":"2019-07-09T09:49:15","modified_gmt":"2019-07-09T05:49:15","slug":"seera-group-reports-30-growth-in-consumer-travel-for-q1-2019","status":"publish","type":"post","link":"https:\/\/www.seera.sa\/en\/seera-group-reports-30-growth-in-consumer-travel-for-q1-2019\/","title":{"rendered":"Seera Group Reports 30% Growth In Consumer Travel For Q1 2019"},"content":{"rendered":"\n<p>\n<strong>Riyadh, Saudi Arabia \u2013<\/strong><strong>6 May\n2019<\/strong>: Seera Group\n(formerly Al Tayyar Travel Group), (the \"Company\") (Tadawul:\n1810) \u2013 the Middle East\u2019s leading technology-powered travel and\ntourism company today announced financial results for the first\nquarter ended 31 March, 2019.<\/p>\n\n\n\n<p>\nFinancial\nHighlights<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>\n\t<strong>Group\n\tgross booking value (GBV)<\/strong>\n\tdropped slightly by 5% in Q1 2019 to SAR 2bn vs. SAR 2.1bn in Q1\n\t2018; despite non-renewal of the Ministry of Education (MOE)\n\tcontract which on average contributed around 30% to the Group\u2019s\n\trevenue. However,\n\tthe decline was offset by strong GBV growth in consumer travel and\n\tcar rental units.\n\tThe MOE contract had a direct impact on the rest of the financial\n\tnumbers.\n\t<\/li><li>\n\t<strong>Group\n\trevenue<\/strong>\n\tdeclined marginally by 3% in Q1 2019 to SAR 466m vs SAR 482m in Q1\n\t2018 \n\t\n\t<\/li><li>\n\t<strong>Group revenue<\/strong>\n\tgrew, on a sequential Q4 2018 to Q1 2019 basis, by 5% from SAR 444m\n\tto SAR 466m. \n\t\n\t<\/li><li>\n\t<strong>Consumer\n\tTravel<\/strong>\n\trecorded SAR 666m in GBV with the online business posting 30% growth\n\tin GBV, well positioned to exceed the SAR 3bn for FY 2019\n\t<\/li><li>\n\t<strong>Car\n\tRental<\/strong>\n\tposted significant jump in revenue, surging 60% to SAR 49m\n\t<\/li><li>\n\t<strong>Hospitality<\/strong>\n\tyielded revenue of SAR 32m representing a SAR 3.5m drop from the\n\tprevious period, primarily due to maintenance undertaken on certain\n\tproperties ahead of the Hajj and Umrah season.\n<\/li><\/ul>\n\n\n\n<p>\n<strong>Abdullah Aldawood<\/strong>,\n<strong>CEO at<\/strong>\n<strong>Seera Group said<\/strong>:<\/p>\n\n\n\n<p>\n<em>\"Our performance this\nquarter illustrates how far Seera Group has progressed along its\ntransformation journey. Despite the non-renewal of our contacts with\nthe MOE, the massive growth in our Consumer Travel business, which\ngrew by 30% this quarter, and our diversification strategy continue\nto drive our financial performance. We will continue to focus on\ninvesting in our core travel businesses of Consumer Travel, Travel\nManagement and Haj &#038; Umrah in line with our transformation\nstrategy.\"<\/em><\/p>\n\n\n\n<p>\nThe online business within\nGroup\u2019s Consumer Travel SBU posted Gross Booking Value (GBV) of SAR\n481 million, 30% higher versus SAR 370 million in Q1 2018. \n<\/p>\n\n\n\n<p>\nGross profit was SAR 302\nmillion in Q1 2019 as compared to SAR 355 million in Q1 2018. The\nreasons for the decline reflect the non-renewal of the Ministry\nof Education\n(MOE) contract, costs associated with changes in product mix and\nincreased contribution from online sales and travel services in the\nUnited Kingdom. These business lines have lower margins as compared\nto other revenue streams of the Company and has resulted in lower\noperating profit.<\/p>\n\n\n\n<p>\nTotal operating expense in Q1\n2019 was SAR 233 million, representing an increase of 10% compared to\nQ1 2018. SG&#038;A is higher as compared to the same quarter due to\nexpansion in the consumer online business. Operating expenses as a\npercentage of revenue is 50%, which is below the international peer\naverage. \n<\/p>\n\n\n\n<p>\n<strong>&#8212;END&#8212;<\/strong><\/p>\n\n\n\n<p>\n<strong>Contact<\/strong><\/p>\n\n\n\n<p>\n<strong>Brunswick Group<\/strong><\/p>\n\n\n\n<p>\nJade Mamarbachi \n<\/p>\n\n\n\n<p>\nt: +971 50 6003829 \n<\/p>\n\n\n\n<p>\ne: <a href=\"mailto:seera@brunswickgroup.com\">seera@brunswickgroup.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Riyadh, Saudi Arabia &ndash;6 May 2019: Seera Group (formerly Al Tayyar Travel Group), (the &#8220;Company&#8221;) (Tadawul: 1810) &ndash; the Middle East&rsquo;s leading technology-powered travel and tourism company today announced financial results for the first quarter ended 31 March, 2019. Financial Highlights Group gross booking value (GBV) dropped slightly by 5% in Q1 2019 to SAR [&hellip;]<\/p>\n","protected":false},"author":28,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,64,49],"tags":[],"class_list":["post-4062","post","type-post","status-publish","format-standard","hentry","category-brand-transformation","category-corporate","category-investors"],"featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","hoc-featured-post":"","hoc-post":"","hoc-media":"","hoc-gallery":"","hoc-sub-page":"","hoc-ring-image-big":"","hoc-ring-image-small":""},"post_excerpt_stackable_v2":"<p>Riyadh, Saudi Arabia &ndash;6 May 2019: Seera Group (formerly Al Tayyar Travel Group), (the &#8220;Company&#8221;) (Tadawul: 1810) &ndash; the Middle East&rsquo;s leading technology-powered travel and tourism company today announced financial results for the first quarter ended 31 March, 2019. Financial Highlights Group gross booking value (GBV) dropped slightly by 5% in Q1 2019 to SAR 2bn vs. SAR 2.1bn in Q1 2018; despite non-renewal of the Ministry of Education (MOE) contract which on average contributed around 30% to the Group&rsquo;s revenue. However, the decline was offset by strong GBV growth in consumer travel and car rental units. The MOE contract&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/www.seera.sa\/en\/category\/brand-transformation\/\" rel=\"category tag\">Brand transformation<\/a>, <a href=\"https:\/\/www.seera.sa\/en\/category\/corporate\/\" rel=\"category tag\">Corporate<\/a>, <a href=\"https:\/\/www.seera.sa\/en\/category\/investors\/\" rel=\"category tag\">Investors<\/a>","author_info_v2":{"name":"Admin","url":"https:\/\/www.seera.sa\/en\/author\/admin\/"},"comments_num_v2":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seera Group Reports 30% Growth In Consumer Travel For Q1 2019<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.seera.sa\/en\/seera-group-reports-30-growth-in-consumer-travel-for-q1-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:locale:alternate\" content=\"ar\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seera Group Reports 30% Growth In Consumer Travel For Q1 2019\" \/>\n<meta property=\"og:description\" content=\"Riyadh, Saudi Arabia &ndash;6 May 2019: Seera Group (formerly Al Tayyar Travel Group), (the &quot;Company&quot;) (Tadawul: 1810) &ndash; the Middle East&rsquo;s leading technology-powered travel and tourism company today announced financial results for the first quarter ended 31 March, 2019. Financial Highlights Group gross booking value (GBV) dropped slightly by 5% in Q1 2019 to SAR [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.seera.sa\/en\/seera-group-reports-30-growth-in-consumer-travel-for-q1-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"Seera\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-23T07:31:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-07-09T05:49:15+00:00\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" 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Saudi Arabia &ndash;6 May 2019: Seera Group (formerly Al Tayyar Travel Group), (the \"Company\") (Tadawul: 1810) &ndash; the Middle East&rsquo;s leading technology-powered travel and tourism company today announced financial results for the first quarter ended 31 March, 2019. Financial Highlights Group gross booking value (GBV) dropped slightly by 5% in Q1 2019 to SAR [&hellip;]","og_url":"https:\/\/www.seera.sa\/en\/seera-group-reports-30-growth-in-consumer-travel-for-q1-2019\/","og_site_name":"Seera","article_published_time":"2019-05-23T07:31:58+00:00","article_modified_time":"2019-07-09T05:49:15+00:00","author":"Admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Admin","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.seera.sa\/ar\/seera-group-reports-30-growth-in-consumer-travel-for-q1-2019\/#article","isPartOf":{"@id":"https:\/\/www.seera.sa\/ar\/seera-group-reports-30-growth-in-consumer-travel-for-q1-2019\/"},"author":{"name":"Admin","@id":"https:\/\/www.seera.sa\/en\/#\/schema\/person\/842f2917959b6a1a0bf48304c33d776d"},"headline":"Seera Group Reports 30% Growth In Consumer Travel For Q1 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